The Libertarian case for wealth in the USA being an illusion

Forum rules
As the title "Thoughtful and Intelligent Debates" implies we want quality discussion in this forum. If you're going to post a new topic or reply to one here please make sure it fits the following guidelines.

  • Clear and descriptive title for your topic.
  • You don't need to write a book but please have a reasonable amount of material to support or dispute what you are discussing.
  • Outside references to material to support or dispute your argument can be used but they should not wholly make up your argument. If for example you reference a news article please explain exactly what you are referencing and why.
  • Stay on topic, while topics will wander in the general forums we want to keep them strictly on topic in this forum. Flaming will not be tolerated at all.

The Libertarian case for wealth in the USA being an illusion

PostBy: lsayre On: Sun Dec 15, 2013 7:41 am

If you don't have tangible assets such as a farm or a business your wealth is only an illusion. Here's why: http://mises.org/daily/6593/
lsayre
 
Stoker Coal Boiler: AHS S130 Coal Gun
Coal Size/Type: Anthracite Pea
Other Heating: Resistance Boiler (if I ever get it fixed)

Re: The Libertarian case for wealth in the USA being an illusion

PostBy: jpete On: Sun Dec 15, 2013 9:59 am

I would suggest that if you are paying property tax on that farm or business, your wealth is still only an illusion.

You are the manager for a government owned entity. Nothing more.
jpete
 
Hand Fed Coal Stove: Harman Mk II
Coal Size/Type: Stove, Nut, Pea
Other Heating: Dino juice

Re: The Libertarian case for wealth in the USA being an illusion

PostBy: lsayre On: Sun Dec 15, 2013 10:41 am

I think the greatest shocks will come when we reach the inevitable stage of negative population growth. Things are only worth what you can sell them for. What happens to even tangible assets like a home or a business or a farm when we suddenly have more homes than people, more malls than people to shop in them, more restaurants than people to eat in them, more Wal-Mart's than employees to work in them (let alone people to shop in them), etc...?

Is it possible that from this perspective even capitalism itself has been merely a Ponzi like illusion fueled by what once seemed as if it would be never ending population growth? I.E. ever more people endlessly needing to consume ever more stuff. Can capitalism survive in a world of declining population growth? I say it can, but not in a society fueled by a currency that by its nature has to endlessly inflate in volume and deflate in value.
lsayre
 
Stoker Coal Boiler: AHS S130 Coal Gun
Coal Size/Type: Anthracite Pea
Other Heating: Resistance Boiler (if I ever get it fixed)